i just bought this phone 2 days ago and i must say its a really good phone, it runs a lot of good apps and games and its fast too even if its CPU is only 800 mhz
i read on xda developers they are working on a kernel for this phone, whit this kernel we can overlock our lg l5 up to 1.2GHZ amazing!!
the only bad thing about this phone is its display i mean its ok but it kinda bothers me :(

Guyz am sorry, it was my mistake. I inserted the sim incorrectly and made my phone to read it, which resulted in the problem " Reading from Sim". Now did a factory reset and inserted the sim in the right direction and it super good. Love you L5.

I actually really like this phone. The only problem i have with it is that I can not figure out how to move my apps to my sd card. Im getting SO frustrated with it, because im always haveing to delete my apps cuz im out of space, and I have a 32 gb card that i apparently wasted my money on! Other than that, Good phone for texting, and social networking, and calls.

Using this phone since Aug'12. Now it shows a problem. Atleast 3 times in a day when I click on Contacts it shows " Reading from SIM" even though the contacts are displayed from phone memory , at the same moment the messages will be blank with white screen. Took it to LG service centre and they are not aware of this issue; however, they reloaded the software again but the problem not solved. Next month Jelly Bean will hit L5. Hope JB will make a difference.